Corebridge Financial Inc. Sells 4,848 Shares of BrightSpire Capital, Inc. (NYSE:BRSP)

Corebridge Financial Inc. trimmed its position in shares of BrightSpire Capital, Inc. (NYSE:BRSP) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,223 shares of the company’s stock after selling 4,848 shares during the period. Corebridge Financial Inc.’s holdings in BrightSpire Capital were worth $362,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Jane Street Group LLC boosted its holdings in shares of BrightSpire Capital by 19.7% during the 3rd quarter. Jane Street Group LLC now owns 193,470 shares of the company’s stock valued at $1,083,000 after purchasing an additional 31,865 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in BrightSpire Capital by 27.2% during the third quarter. Y Intercept Hong Kong Ltd now owns 170,967 shares of the company’s stock worth $957,000 after acquiring an additional 36,579 shares during the last quarter. Barclays PLC lifted its position in BrightSpire Capital by 329.1% in the third quarter. Barclays PLC now owns 198,351 shares of the company’s stock worth $1,110,000 after buying an additional 152,131 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of BrightSpire Capital by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,082,637 shares of the company’s stock worth $17,267,000 after purchasing an additional 14,606 shares during the period. Finally, Garden State Investment Advisory Services LLC bought a new position in shares of BrightSpire Capital during the third quarter valued at approximately $75,000. Institutional investors own 56.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BRSP shares. Alliance Global Partners started coverage on shares of BrightSpire Capital in a report on Friday, January 17th. They set a “buy” rating and a $7.25 price objective for the company. B. Riley cut their target price on shares of BrightSpire Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $7.69.

BrightSpire Capital Price Performance

NYSE BRSP opened at $4.76 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $621.93 million, a P/E ratio of -4.53 and a beta of 1.54. BrightSpire Capital, Inc. has a 12-month low of $4.27 and a 12-month high of $6.71. The firm’s fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $5.82.

BrightSpire Capital (NYSE:BRSP) last released its earnings results on Tuesday, February 18th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.03). BrightSpire Capital had a positive return on equity of 8.82% and a negative net margin of 79.23%. The company had revenue of $17.46 million for the quarter, compared to analysts’ expectations of $65.81 million. During the same period in the prior year, the firm posted $0.28 EPS. Analysts forecast that BrightSpire Capital, Inc. will post 0.67 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.64 dividend on an annualized basis and a yield of 13.45%. BrightSpire Capital’s dividend payout ratio is currently -60.95%.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.